Skip to main content

About your Search

Search Results 0 to 1 of about 2
Jun 20, 2013 4:30pm PDT
than 500 points lost in 48 hours as economists tell us that the economy is finally on the mend. what's going on here. rebecca jarvis leads us off. >> reporter: today's big drop is part of a roller coaster week for your money. the dow up or down triple digits every day. so what's driving the volatility? actually, good news. >> we are stronger, we are. our economy is getting better. >> reporter: the best month for existing home sales in three and a half years. and improvement in jobs. all of this means there's less need for this man, fed chairman ben bernanke to keep pumping billions into the system. >> the easiest way to say is that we have had training wheels on our economy for quite some time now and now we're getting word that these training wheels are going to have to come off, slowly come off and we're going to see if we >> reporter: the uncertainty also leading to higher mortgage rates, now above four percent for the first time in a year. but still some of the cheapest borrowing in history. for example, in california, the turnbull family can buy their dream home for about $2,000
Jun 19, 2013 5:30pm PDT
. fed chairman ben bernanke said today that he expects the economy to grow and unemployment to fall well into next year, but he also signalled that years of low interest rates that have made it easier for companies to invest and families to buy cars and homes may soon be ending, a big reason the dow dropped more than 200 points on the news. abc's rebecca jarvis explains what this may mean for you tonight. >> reporter: david and sarah turnbull are looking at homes in new bury park, california for their expanding family, hoping to take advantage of record low interest rates. >> we're at a time when we can buy, and we'd like to lock in an interest rate. >> reporter: but in the last six weeks, interest rates have started to climb. mortgages now about 4% for the first time in a year, up more than half a percent since may. >> people are thinking that makes a big difference in my monthly payment and what i can afford. >> reporter: every 1% increase in mortgage rates makes owning . >> i like the openness. >> reporter: in real terms, the cost of the mortgage on that $500,000 dream home goes up $2
Search Results 0 to 1 of about 2